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Technology Stocks : Lucent Technologies (LU)

LU 2.660

-1.5%

Dec 12 9:30 AM EST

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To: MRE who started this subject	5/25/2002 10:07:05 AM
From: Kenneth E. Phillipps	Read Replies (2) of 21876

Lucent's Russo Sees No Market Improvement Within Six Months By Hannah Warrington Frankfurt, May 25 (Bloomberg) -- Lucent Technologies Inc. Chief Executive Officer Patricia Russo said she doesn't expect the market to improve within the next six months in an interview with the Frankfurter Allgemeine Zeitung. ``It's not clear to me or anyone else at the moment when this market will get back to growth, but there won't be a recovery within the next six months,'' she told the paper. Lucent is the biggest U.S. maker of phone equipment, and last month Russo announced plans to eliminate another 6,000 jobs from a workforce that has been cut by half in the past year. Lucent is based in Murray Hill, New Jersey. Russo aims to bring costs down so that Lucent can be profitable with quarterly revenue of $4 billion. ``We're seeing light at the end of the tunnel -- we just don't know how long the tunnel is,'' she said. Frankfurter Allgemeine Zeitung 5/25

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